seniors can you pls guide me
how service tax booking to be done .On the following advance receipt & how to adjuste BAL service tax booking and payment on the same
suppose i receive advance on contract rs-100000. and after 2 months i receive bill of rs-250000.00 ON CONTRACT COMPLETION how booking of service tax will take place
1.service tax booking will be on advance receipt and then balance on bill raised by us
so receipt ENTRY WILL BE
DEBTORS A/C.............. CR 1L
TO BANK A/C .............1L
BUT I WANT DO BOOKING OF SERVICE TAX ON ABOVE 1LAC SAY 4%.AND PAY IT IN 1ST QUATER AND BAL IN NEXT QUATER ON BILL ???????????????????????
CAclubindia
